Nigerian business magnate, Alhaji Aliko Dangote is now the 51st richest man in the world and first in Africa in Forbes latest ranking for 2016. Dangote, who has diverse investment in sugar, cement, flour and beverage among others who is valued by Forbes to be worth $15.4billion.

Another Nigerian on the list is chairman, Globacom Group, Mike Adenuga who is 103rd, with wealth valued at about $10 billion.

Microsoft founder, Bill Gates, whose estimated net worth was $75 billion in mid-February, again tops the list of billionaires. Spanish clothing retailer and founder of the Zara brand of stores, Amancio Ortega, came second with a net worth of $67 billion and American investment guru, Warren Buffet with a net worth of $60.8 billion completed the top three richest people.

The world billionaire list also had a feel of the global economy crisis as the number of billionaires is said to have reduced by 16 from record 1,826 in 2015 to 1,810. Forbes also revealed that the aggregate net worth was $6.48 trillion, $570 billion less than that of last year. It was also the first time since 2010 that the average net worth of a billionaire dropped – it is now $3.6 billion, $300 million less than last year.

Thirty-one years old founder of social media network, Facebook, Mark Zuckerberg, had the best year of all billionaires, adding a whopping $11.2 billion to his fortune and moved up to sixth from 16th position in 2015.